Picture Property Developments LLP OC392051 false 2022-08-01 2023-03-31 2023-03-31 The principal activity of the company is that of holding investments in property development companies. Digita Accounts Production Advanced 6.30.9574.0 OC392051 2022-08-01 2023-03-31 OC392051 2023-03-31 OC392051 core:OtherReservesSubtotal 2023-03-31 OC392051 core:CurrentFinancialInstruments 2023-03-31 OC392051 core:AdditionsToInvestments 2023-03-31 OC392051 core:CostValuation 2023-03-31 OC392051 core:ProvisionsForImpairmentInvestments 2023-03-31 OC392051 bus:SmallEntities 2022-08-01 2023-03-31 OC392051 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-03-31 OC392051 bus:AbridgedAccounts 2022-08-01 2023-03-31 OC392051 bus:RegisteredOffice 2022-08-01 2023-03-31 OC392051 bus:PartnerLLP2 2022-08-01 2023-03-31 OC392051 bus:PartnerLLP4 2022-08-01 2023-03-31 OC392051 bus:PartnerLLP5 2022-08-01 2023-03-31 OC392051 bus:PartnerLLP8 2022-08-01 2023-03-31 OC392051 bus:LimitedLiabilityPartnershipLLP 2022-08-01 2023-03-31 OC392051 countries:AllCountries 2022-08-01 2023-03-31 OC392051 core:ProvisionsForImpairmentInvestments 2022-07-31 OC392051 2021-08-01 2022-07-31 OC392051 2022-07-31 OC392051 core:OtherReservesSubtotal 2022-07-31 OC392051 core:CurrentFinancialInstruments 2022-07-31 iso4217:GBP xbrli:pure

Registration number: OC392051

Picture Property Developments LLP

Annual Report and Unaudited Abridged Financial Statements

for the period from 1 August 2022 to 31 March 2023

 

Picture Property Developments LLP

Contents

Limited liability partnership information

1

Abridged Financial Statements

2 to 5

Abridged Balance Sheet

2

Notes to the Abridged Financial Statements

4

 

Picture Property Developments LLP

Limited liability partnership information

Designated members

Mr Rupert C R Mackenzie

Members

PGC Management Limited

M D Modibbo

Hamada Hamada Holdings Int Limited
 

Registered office

3 Epcot Mews
Pember Road
London
NW10 5LL

Accountants

Ross + Partners
Chartered Certified Accountants
Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

 

Picture Property Developments LLP

(Registration number: OC392051)
Abridged Balance Sheet as at 31 March 2023

Note

31 March 2023
 £

31 July 2022
 £

Fixed assets

 

Investments

3

(920)

3

Current assets

 

Debtors

1,213

1,213

Creditors: Amounts falling due within one year

(863)

(3)

Net current assets

 

350

1,210

Total assets less current liabilities

 

(570)

1,213

Accruals and deferred income

 

(270)

(1,213)

Net liabilities attributable to members

 

(840)

-

Represented by:

 

Members’ other interests

 

Other reserves

 

(840)

-

   

(840)

-

Total members' interests

 

Loans and other debts due to members

 

(1,213)

(1,213)

Equity

 

(840)

-

   

(2,053)

(1,213)

For the year ending 31 March 2023 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

All of the limited liability partnership's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006, as applied to limited liability partnerships.

 

Picture Property Developments LLP

(Registration number: OC392051)
Abridged Balance Sheet as at 31 March 2023 (continued)

The financial statements of Picture Property Developments LLP (registered number OC392051) were approved by the Board and authorised for issue on 30 January 2024. They were signed on behalf of the limited liability partnership by:

.........................................
Mr Rupert C R Mackenzie
Designated member

 

Picture Property Developments LLP

Notes to the Abridged Financial Statements for the Period from 1 August 2022 to 31 March 2023

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Picture Property Developments LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Exemption from preparing group accounts

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the period was 3 (2022 - 7).

 

Picture Property Developments LLP

Notes to the Abridged Financial Statements for the Period from 1 August 2022 to 31 March 2023 (continued)

3

Investments held as fixed assets

Total
£

Cost

Additions

(923)

At 31 March 2023

(923)

Provision for impairment

At 1 August 2022

(3)

At 31 March 2023

(3)

Net book value

At 31 March 2023

(920)

At 31 July 2022

3

4

Control

The ultimate controlling party is the same as the controlling party.